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Okay Co., a new startup business, is preparing their budget for the first quarter 2022 ending March 31. Budgeted sales of the company's only product for the next five months are
Januany. 8700 units
February. 6000 units
March. 8300 units
April. 5300 units
May. 6200 units
Master Bude 2021 units unts units units units SALES BUDGET Quarter Budgeted salos (units) Selling price per unit Totalles SCHEDULE OF EXPECTED CASH COLLECTIONS Quarter Accounts recewable beginning balance April Sales April May May sales Instrucions Aut A. Template Parts and 15 SCHEDULE OF EXPECTED CASH COLLECTIONS Quartor Accounts receivable beginning balance 19 April sales April 21 May 22 May sales May 26 June 3 June sales June 27 Total cash collections > PRODUCTION BUDGET 30 Quarter Budgeted sales Add desired ending inventory Total needs 15 Less beginning inventory Required production DIRECT MATERIALS BUDGET Quarter All 4 Required production in units Raw materials per unit (pounds) Production noods (pounds) Add desired ending inventory (pounds) Total needs (pounds) Less beginning inventory (pounds) 41 Raw materials to be purchased (pounds) Cost of raw materials to be purchased at $0 40 per pound SCHEDULE OF EXPECTED CASH DISBURSEMENTS FOR MATERIAL Quarter Accounts payable beginning balance April purchases 35 April 50 May 57 May purchases May 5 June 30 June purchases June Total cash disbursements for materials DIRECT LABOR BUDGET Quarter Required production Direct labor hours per und Total direct labor hours needed Direct labor cost per hour Total direct labor cost MANUFACTURING OVERHEAD BUDGET Quarter Budgeted direct labor-hours 17 Variable manufacturing overhead rato Variable manufacturing overhead Fred manufacturing overhead 0 Total manufacturing overhead 11 Less depreciation Cash disbursements for manufacturing overhead ENDING FINISHED GOODS INVENTORY BUDGET is Computation of absorption unit product cost Total Direct materials Director Manufacturing overhead Unit product cost Quantity pounds hours hours Cost per pound por hour por hour Predeformined Overhead Rato Total manufacturing overhead Total direct labor hours Budgeted ending finished goods inventory * Ending finished goods inventory in units Unit product cost 106 Ending finished goods inventory in dollars SELLING AND ADMINISTRATIVE EXPENSE BUDGET Quarter 1 Budgeted sales in units 106 Variable selling and administrative expense per unit Variable selling and administrative expense 1. Fued selling and administrative expense 100 Total selling and administrative experise 130 less depreciation Cash disbursements for selling and administrative 111 expenses CASH BUDGET Cash Budget Quarter 11 Cash balance beginning Add receipts Cash balance, beginning 10 Add receipts Cash collections 13 Total cash available Less disbursements Direct materials 12 Direct labor 121 Manufacturing overhead 123 Selling & administrative Equipment purchases 130 Dividends 1 Total disbursements Excess (doficiency) of cash available over 133 disbursements 115 Financing Borrowings Repayments interest Total financing BUDGETED INCOME STATEMENT 140 Budpoled Income Statement Computation of net sales Sales Loss uncollectible amounts Net sales Not soles 151 Cost of goods sold 154 Gross margin 156 Selling & administrative expenses 156 Net operating incomo 132 Interest expense 154 Net income 13 100 15 Computation of cost of goods sold Budgeted sales (units) Unit product cost Cost of goods sold (Based on information given beginning balances and calculatons) BEGINNING BALANCE SHEET (REQUIRED) 155 Balance Sheet 176 10 Current assets Cash 172 Accounts receivable Raw materials inventory 114 Finished goods inventory 115 Plant and equipment Land Buildings and equipment 11 Accumulated depreciation 170 Total assets 100 Liabilities Accounts payable Stockholders' equity Common stock 11 Stockholders' equity Common stock Retained earings 105 Total liabilities and stockholders' equity 189 19 Budgeted Balance Sheet 190 191 192 Current assets 193 Cash 1944 Accounts receivable 195 Raw materials inventory 19 Finished goods inventory 197 Plant and equipment 198 Land 190 Buildings and equipment Accumulated depreciation 201 Total assets 201 Liabilities Accounts payable Com 203 Liabilities: 204 Accounts payable 205 Stockholders' equity 206 Common stock 207 Retained earnings 208 Total liabilities and stockholders' equity 209 210 211 212 Expert Q&A Done Expert Q&A Done Theory SELLINI ADATAIMEDE Vides de - Fred CASHOGET 1 A Almed Weing occurrerents of wedd the window 7. Our end of each month Tech 3 G53000 2000 Fear Thread will be open twee Am Thow dion BHI 000 Parti AC MOLE he + What they What they 1 Walters.co. What What is the copy Wat they Wood White med andre mere Whether When the 10 While werd Purt Chapter howe provided on my own thumouw Show workstations to all your decision your work properly. I can't understand i can't ratet Charles 0.00 yar One of the boundawcowe beyond is propter the comer che come ty 5.00 Shohet cor Show all wortion to antity your decision Label you workspropriately I can't understand it.carit Aphp73.000 pal Show Show worections to justify your de la Application de Charpecht 300 cm A 23,000 She work tot decision Law Appropriately and the Master Bude 2021 units unts units units units SALES BUDGET Quarter Budgeted salos (units) Selling price per unit Totalles SCHEDULE OF EXPECTED CASH COLLECTIONS Quarter Accounts recewable beginning balance April Sales April May May sales Instrucions Aut A. Template Parts and 15 SCHEDULE OF EXPECTED CASH COLLECTIONS Quartor Accounts receivable beginning balance 19 April sales April 21 May 22 May sales May 26 June 3 June sales June 27 Total cash collections > PRODUCTION BUDGET 30 Quarter Budgeted sales Add desired ending inventory Total needs 15 Less beginning inventory Required production DIRECT MATERIALS BUDGET Quarter All 4 Required production in units Raw materials per unit (pounds) Production noods (pounds) Add desired ending inventory (pounds) Total needs (pounds) Less beginning inventory (pounds) 41 Raw materials to be purchased (pounds) Cost of raw materials to be purchased at $0 40 per pound SCHEDULE OF EXPECTED CASH DISBURSEMENTS FOR MATERIAL Quarter Accounts payable beginning balance April purchases 35 April 50 May 57 May purchases May 5 June 30 June purchases June Total cash disbursements for materials DIRECT LABOR BUDGET Quarter Required production Direct labor hours per und Total direct labor hours needed Direct labor cost per hour Total direct labor cost MANUFACTURING OVERHEAD BUDGET Quarter Budgeted direct labor-hours 17 Variable manufacturing overhead rato Variable manufacturing overhead Fred manufacturing overhead 0 Total manufacturing overhead 11 Less depreciation Cash disbursements for manufacturing overhead ENDING FINISHED GOODS INVENTORY BUDGET is Computation of absorption unit product cost Total Direct materials Director Manufacturing overhead Unit product cost Quantity pounds hours hours Cost per pound por hour por hour Predeformined Overhead Rato Total manufacturing overhead Total direct labor hours Budgeted ending finished goods inventory * Ending finished goods inventory in units Unit product cost 106 Ending finished goods inventory in dollars SELLING AND ADMINISTRATIVE EXPENSE BUDGET Quarter 1 Budgeted sales in units 106 Variable selling and administrative expense per unit Variable selling and administrative expense 1. Fued selling and administrative expense 100 Total selling and administrative experise 130 less depreciation Cash disbursements for selling and administrative 111 expenses CASH BUDGET Cash Budget Quarter 11 Cash balance beginning Add receipts Cash balance, beginning 10 Add receipts Cash collections 13 Total cash available Less disbursements Direct materials 12 Direct labor 121 Manufacturing overhead 123 Selling & administrative Equipment purchases 130 Dividends 1 Total disbursements Excess (doficiency) of cash available over 133 disbursements 115 Financing Borrowings Repayments interest Total financing BUDGETED INCOME STATEMENT 140 Budpoled Income Statement Computation of net sales Sales Loss uncollectible amounts Net sales Not soles 151 Cost of goods sold 154 Gross margin 156 Selling & administrative expenses 156 Net operating incomo 132 Interest expense 154 Net income 13 100 15 Computation of cost of goods sold Budgeted sales (units) Unit product cost Cost of goods sold (Based on information given beginning balances and calculatons) BEGINNING BALANCE SHEET (REQUIRED) 155 Balance Sheet 176 10 Current assets Cash 172 Accounts receivable Raw materials inventory 114 Finished goods inventory 115 Plant and equipment Land Buildings and equipment 11 Accumulated depreciation 170 Total assets 100 Liabilities Accounts payable Stockholders' equity Common stock 11 Stockholders' equity Common stock Retained earings 105 Total liabilities and stockholders' equity 189 19 Budgeted Balance Sheet 190 191 192 Current assets 193 Cash 1944 Accounts receivable 195 Raw materials inventory 19 Finished goods inventory 197 Plant and equipment 198 Land 190 Buildings and equipment Accumulated depreciation 201 Total assets 201 Liabilities Accounts payable Com 203 Liabilities: 204 Accounts payable 205 Stockholders' equity 206 Common stock 207 Retained earnings 208 Total liabilities and stockholders' equity 209 210 211 212 Expert Q&A Done Expert Q&A Done Theory SELLINI ADATAIMEDE Vides de - Fred CASHOGET 1 A Almed Weing occurrerents of wedd the window 7. Our end of each month Tech 3 G53000 2000 Fear Thread will be open twee Am Thow dion BHI 000 Parti AC MOLE he + What they What they 1 Walters.co. What What is the copy Wat they Wood White med andre mere Whether When the 10 While werd Purt Chapter howe provided on my own thumouw Show workstations to all your decision your work properly. I can't understand i can't ratet Charles 0.00 yar One of the boundawcowe beyond is propter the comer che come ty 5.00 Shohet cor Show all wortion to antity your decision Label you workspropriately I can't understand it.carit Aphp73.000 pal Show Show worections to justify your de la Application de Charpecht 300 cm A 23,000 She work tot decision Law Appropriately and the
